Fortum has published a good start of the year with Q1 results confirming the expected recovery as revenues increased by 24.5% to reach €1,232m. Following the same path, adjusted EBITDA increased by 18.5% and operating profit by 13.8%. However, a lower minority interest and higher taxes pushed net profit to a 2.7% increase and an EPS of €0.38/share. Operating cash flows on the other hand decreased by 24.8%, mainly due to €58m foreign exchange losses in hedging contracts to Russi
27 Apr 2017
Strong start of the year with the much-awaited recovery; Russia shines
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Strong start of the year with the much-awaited recovery; Russia shines
Fortum has published a good start of the year with Q1 results confirming the expected recovery as revenues increased by 24.5% to reach €1,232m. Following the same path, adjusted EBITDA increased by 18.5% and operating profit by 13.8%. However, a lower minority interest and higher taxes pushed net profit to a 2.7% increase and an EPS of €0.38/share. Operating cash flows on the other hand decreased by 24.8%, mainly due to €58m foreign exchange losses in hedging contracts to Russi